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years is say no, no, no to any kind of -- and obama has tried to push through bills to cut taxes for job creators, fo. host: for small businesses? caller: yes, for small businesses. host: here is reaction from senator lindsey gramm. he says this -- a republican from new jersey, go ahead. caller: i am calling in reference to this fiscal cliff. at this point, all the seniors are already in trouble. they are not going to get but a little increase. congress will automatically get a raise. theys hould stop that. they don't need the money anymore. they have plenty. obama is going to have his way, and that's it. host: can you hang on the line? let me get your reaction from larry duncan on twitter who says -- what do you think, margaret? caller: i think that is correct. there are a lot of loopholes but they do not want to do this. they are happy because they are getting this extra money. if obama gets -- i don't have a charge card. i am paying off all my debt. we should pay off all large debt. how much are we paying for this debt that we go? that is a waste. why should anyone else do it? congres
president obama is exactly correct. now i would also say this upper income people, their business will be better if that sacrifices first at the upper level and not by taking away social security and medicare benefits that reduce demand in a society for other goods and services. there is an economic argument that i think is beginning to see more, which is essentially what the caller did, that a healthy middle class with consumer demand from a healthy middle-class is what is needed for a healthy economy and therefore benefits all. >> host: kathleen pender writes in the chronicle that there is a silver lining when it comes to the amt. what is less known is the amt has a silver lining. assuming congress passes a patch, people in amt and stay in amt will be protected from an increase in regular income tax rates that the bush era tax cuts expire. that's because they will be paying a top amt rate of 20% come at you at the top regular rate is at 30.6%. this will be true for everyone in amt. people who fall out of the amt could see their taxes go up. >> guest: i would agree, however, i gu
to you, and the conversations will encompass not just leaders of congress, but business leaders and civic leaders and governors and others who have a stake in the process and the outcome of the negotiations, but as secretary geithner said over the weekend, as, i think, president obama conveyed in the interview today with bloomberg tv, he remains confident we can get this done. he remains optimistic that once republicans accept that there is no deal without an acknowledgement and acceptance that rates have to go up on higher end earners that, well, we can find a compromise here that resolves the fiscal cliff and takes a very important step towards the kind of broad balanced deficit reduction package that do enormous good to the economy. the kind of package i should not leave out with targeting investments so the economy continues to grow and create jobs. as i said on occasions, deficit reduction in and of itself is not a goal, but part of the plan that is focused on economic growth and job creation. president's very focused on that. jay? >> just a second ago, you referred to how the debt c
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